Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches

This note provides: (1) an overview of new manifestations of consumer risks that are significant and cross-cutting across four key fintech products: digital microcredit, P2PL, investment-based crowdfunding, and e-money; and (2) examples of emerging...

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Main Author:	World Bank
Format:	Technical Note
Language:	English
Published:	Washington, DC 2022
Subjects:	CONSUMER RISK DIGITAL MICROCREDIT P2PL INVESTMENT-BASED CROWDFUNDING E-MONEY FINANCIAL REGULATION FINANCIAL RISK REGULATORY POLICY FCP REGULATORY APPROACH TO FINTECH FINTECH
Online Access:	http://documents.worldbank.org/curated/en/099735204212299868/P17300605103480e90baef084f653576421 http://hdl.handle.net/10986/37339

id	okr-10986-37339
recordtype	oai_dc
spelling	okr-10986-373392022-04-27T05:10:41Z Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches World Bank CONSUMER RISK DIGITAL MICROCREDIT P2PL INVESTMENT-BASED CROWDFUNDING E-MONEY FINANCIAL REGULATION FINANCIAL RISK REGULATORY POLICY FCP REGULATORY APPROACH TO FINTECH FINTECH This note provides: (1) an overview of new manifestations of consumer risks that are significant and cross-cutting across four key fintech products: digital microcredit, P2PL, investment-based crowdfunding, and e-money; and (2) examples of emerging regulatory approaches to target such risks. This note is based on a more detailed recently published WBG Policy Research Paper titled Consumer Risks in Fintech, New Manifestations of Consumer Risks and Emerging Regulatory Approaches. The research paper delves more deeply into each of the four key fintech products and their associated risks. The appendix provides an overview of product-specific risks for which more information can be found in the research paper. The primary focus and objective of this note, and the paper on which it is based, is to inform authorities’ development of regulatory policy. The examples included here are intended to assist regulators considering potential FCP regulatory approaches to fintech. However, it is hoped that the discussion of manifestations of consumer risks in a fintech context can also assist authorities with related key areas, such as market conduct supervision. 2022-04-26T18:48:59Z 2022-04-26T18:48:59Z 2022-04 Technical Note http://documents.worldbank.org/curated/en/099735204212299868/P17300605103480e90baef084f653576421 http://hdl.handle.net/10986/37339 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Technical Note Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	CONSUMER RISK DIGITAL MICROCREDIT P2PL INVESTMENT-BASED CROWDFUNDING E-MONEY FINANCIAL REGULATION FINANCIAL RISK REGULATORY POLICY FCP REGULATORY APPROACH TO FINTECH FINTECH
spellingShingle	CONSUMER RISK DIGITAL MICROCREDIT P2PL INVESTMENT-BASED CROWDFUNDING E-MONEY FINANCIAL REGULATION FINANCIAL RISK REGULATORY POLICY FCP REGULATORY APPROACH TO FINTECH FINTECH World Bank Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches
description	This note provides: (1) an overview of new manifestations of consumer risks that are significant and cross-cutting across four key fintech products: digital microcredit, P2PL, investment-based crowdfunding, and e-money; and (2) examples of emerging regulatory approaches to target such risks. This note is based on a more detailed recently published WBG Policy Research Paper titled Consumer Risks in Fintech, New Manifestations of Consumer Risks and Emerging Regulatory Approaches. The research paper delves more deeply into each of the four key fintech products and their associated risks. The appendix provides an overview of product-specific risks for which more information can be found in the research paper. The primary focus and objective of this note, and the paper on which it is based, is to inform authorities’ development of regulatory policy. The examples included here are intended to assist regulators considering potential FCP regulatory approaches to fintech. However, it is hoped that the discussion of manifestations of consumer risks in a fintech context can also assist authorities with related key areas, such as market conduct supervision.
format	Technical Note
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches
title_short	Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches
title_full	Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches
title_fullStr	Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches
title_full_unstemmed	Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches
title_sort	financial consumer protection and fintech : an overview of new manifestations of consumer risks and emerging regulatory approaches
publisher	Washington, DC
publishDate	2022
url	http://documents.worldbank.org/curated/en/099735204212299868/P17300605103480e90baef084f653576421 http://hdl.handle.net/10986/37339
_version_	1764486980498882560

Financial Consumer Protection and Fintech : An Overview of New Manifestations of Consumer Risks and Emerging Regulatory Approaches

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